Neurent Medical Raises €62.5 Million Series C to Expand Neuromark Rhinitis Device
MVM Partners led the Irish company's round, about $74 million, after insurers widened coverage of the radiofrequency nasal nerve treatment last year.
Key points
- Neurent Medical said on February 11 it closed an oversubscribed Series C financing of €62.5 million, about $74 million.
- MVM Partners led the round, with Sofinnova Partners joining and existing investors including EQT Life Sciences, Atlantic Bridge, Fountain Healthcare Partners and Enterprise Ireland participating.
- The company will use the money to expand sales of its FDA-cleared Neuromark system, broaden clinical evidence and develop its pipeline.
Neurent Medical, a Galway, Ireland-based maker of a radiofrequency device for chronic rhinitis, said on Wednesday, February 11, that it closed an oversubscribed Series C financing round of €62.5 million ($74 million), according to the company's announcement, distributed by PR Newswire. The company said the funding will drive commercial expansion of its Neuromark system, broaden clinical evidence and advance its product and indication pipeline.
MVM Partners led the investment and Sofinnova Partners was a significant participant, MedTech Dive reported. Existing investors EQT Life Sciences, Atlantic Bridge, Fountain Healthcare Partners and Enterprise Ireland also took part. Kyle Dempsey, a partner at MVM Partners, and Cedric Moreau, a partner at Sofinnova Partners, joined Neurent's board.
The device
Neuromark uses what the company calls Impedance Controlled Radiofrequency technology to target the posterior nasal nerves, which Neurent says drive symptoms of chronic rhinitis such as congestion, runny nose, sneezing and postnasal drip. The device received Food and Drug Administration 510(k) clearance in 2021, and the FDA cleared updated versions in 2022 and 2025, according to MedTech Dive.
In a two-year study, Neurent reported a 55% reduction from baseline in a patient-reported nasal symptom score, MedTech Dive said. The results are company-reported.
"This Series C financing will support our commercial expansion and help bring NEUROMARK to the patients and physicians who need it most," chief executive Brian Shields said in the announcement.
Reimbursement backdrop
Neurent received a reimbursement code at the start of 2024, and payer coverage widened last year, MedTech Dive reported. Cigna stopped classifying the procedure code as experimental and investigational in September 2025, and UnitedHealthcare's Medicare Advantage policy took the same step a month later, according to the publication.
"In this rapidly emerging category, Neurent has set a new standard with a best-in-class solution, powered by a proprietary impedance control system that delivers real-time feedback, giving clinicians greater treatment confidence, control, and predictability during every procedure," Dempsey said.
Shields said the money will also go beyond sales. "In addition to expanding patient access, this investment will also enable further evidence generation across broader populations and support the continued development of our exciting pipeline offerings," he said. Neurent said one in four adults experiences chronic rhinitis, according to MedTech Dive.
Neurent has U.S. operations in Braintree, Massachusetts. It did not disclose a valuation or revenue.
Sources
- Neurent Medical Raises €62.5 million in Oversubscribed Series C Financing to Accelerate NEUROMARK® Commercial Expansion to treat Chronic Rhinitis, PR Newswire (Neurent Medical), February 11, 2026
- Neurent raises $74M to commercialize treatment for nasal condition, MedTech Dive, February 12, 2026